Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a credit provider provides consumer credit to an individual, the following information about the consumer credit is repayment history information about the individual:
(a) whether or not the individual has met an obligation to make a monthly payment that is due and payable in relation to the consumer credit;
(b) the day on which the monthly payment is due and payable;
(c) if the individual makes the monthly payment after the day on which the payment is due and payable--the day on which the individual makes that payment.
(1A) If an obligation of the individual to make a monthly payment is, or is taken by subsection (1B) to be, affected by a financial hardship arrangement, then repayment history information is to be determined by reference to that obligation as so affected.
Note: In this case, there may be financial hardship information: see subsections 6QA(4) and (5).
(1B) If, under a financial hardship arrangement, an individual is not required to make a monthly payment for a month, then, for the purposes of subsections (1) and (1A) and section 6QA:
(a) a monthly payment is taken to have been due and payable on the day on which it would have been due and payable apart from the arrangement; and
(b) the individual is taken to have met the obligation to make the monthly payment; and
(c) the obligation to make the monthly payment is taken to be affected by the arrangement.
(2) The regulations may make provision in relation to:
(a) whether or not an individual has met an obligation to make a monthly payment that is due and payable in relation to consumer credit; and
(b) whether or not a payment is a monthly payment.